Yieh Phui Enterprise Co., Ltd. (Yieh Phui), a leading coating steel producer in Taiwan, announced significant price increases for April domestic sales and May exports, reflecting a steep rise in production expenses.

Domestic prices for galvanized steel rose by NT$1,700 per ton, and pre-painted steel hiked by NT$2,000. In terms of the export, the company raised quotes by US$50 per ton. These adjustments represented the fourth consecutive month of increases, with the scale of the hikes expanding substantially compared to previous months.

The company said this decision is to reflect the escalating energy, freight, and raw material costs driven by the intensifying Middle East conflicts. Both Brent and West Texas Intermediate (WTI) crude oil have surpassed US$100 per barrel, while iron ore and coal prices continue to rise.

Despite relatively slow demand growth, the market faces a high cost and firm price environment. Major international steel mills, including Nucor in the US and Baosteel in China, have also raised their prices, providing strong global support for the trend.

In Taiwan, domestic distribution prices for galvanized steel have surged by nearly 20% since late February, and pre-painted products also have had increases exceeding NT$2,000 per ton.

As low-cost inventories deplete, local distributors must adjust prices to account for more expensive incoming stock. With global manufacturing expanding and AI-driven investments fueling economic optimism, market data from the International Monetary Fund (IMF) and the World Steel Association (worldsteel) indicates a steady expansion of the global economy and a gradual recovery in the steel sector.